Swedish fashion chain H&M has confirmed that it will open its first store in India this year, after receiving permissionfrom the Indian Government late last year.
In December, H&M received final approval from the Indian Government to open fifty stores in the country, after it pledged to invest 7.2 billion rupees on the expansion.
The new flagship’s location hasn’t been confirmed; just that it will open this year. The introduction of H&M to India will be the latest in a series of important openings for the brand; this year will also see the retailer opening its first store in Philippines and Australia.
“We are very excited to open our first store in India. It is one of the most exciting countries in the world right now, with so much potential,” said Karl-Johan Persson, CEO of H&M.
H&M is currently present in 53 markets worldwide, with over 3,100 stores, employing over 116,000 people.